The latest ABARES crop report forecasts the following production: Wheat – 31.9MMT; barley – 11.7MMT; Canola – 5.6MMT; Sorghum – 2.1MMT; Desi – 1.9MMT; Lentils – 1.1MMT; Lupins – 763KT; Faba – 693KT; Field Peas – 222KT.
The Australian wheat crop is facing harvesting delays & continuous rainfall, impacting the local market with firm prices this week. In Southeast Asia, millers have secured Feb/March supplies of Australian wheat APW at U$272/MT & APH2 at U$302/MT, & are now seeking to cover the demand for April/May.
Australia’s red sorghum new crop faces weak demand in China, with this week offers quoting at U$275-77/MT to CFR Tianjin, while buyers bid at U$270/MT.
This week, there has been no trade movement in new Australian GMB, with offers quoted at U$ 1020/MT to CFR Qingdao in containers (M/M), and buyers are bidding at U$1000/MT. Local sources indicate that GMB stock availability is very tight in China.
Kaspa peas are experiencing low demand as offer at U$460/MT to CFR Tianjin due to high origination market prices & heavy rainfall in Victoria, with buyers placing low bid values at U$435/MT. As we are hearing Russian YP offers quoted at U$365/MT (D/J) in containers & Canadian YP offers quoted at U$390/MT (J/F) in containers & U$375/MT in bulk (F/M).
In local market, faba beans have shown robust price stability over the last three weeks. However, this week, there has been a lack of demand for lupins and faba beans in the Egyptian market. In container offers Faba Warda type at U$510/MT levels & Lupins at U$555/MT to CFR Damietta (D/J).
Exports of Desi chickpeas in Oct,24 is increased by 328% compared to Sep,24 – as India is major importer compared to rest of ISC countries. Export of lentils in Oct,24 is declined by 67% compared to Sep,24 – as main importers are India, SL & Bangladesh as per ABS.
In India, there has been weak demand & limited trade activity for Australian desi chickpeas this week, with buyers showing low interest. Offers for CHK1(24/25) have been quoted at U$725-30/MT to CNF India (D/J). Additionally, there is low buyer interest in Australian red lentils.
In Pakistan, there are limited inquiries for Australian desi chickpeas for December cargoes, with buyers bidding at U$700/MT against offers of U$725-30/MT to CFR Karachi in containers.
In Bangladesh, this week minimal trade movement in Australian desi chickpeas offered at U$740/MT to CFR Chittagong (D/J) in containers.
In Nepal, Hearing Australian GM Canola offers at U$670/MT to CFR Birgunj (D/J) in containers with no buying interest. Australian desi chickpeas offer at U$745/MT to CFR Birgunj (D/J) in containers.
DM us for price indication & firm offers for Australian Grains, Pulses & Oilseeds
Regards